Guess Inc. managed to beat Wall Street’s first-quarter estimates despite earnings and sales that were depleted by steep drops in its European business.
Net income dropped 37.6 percent to $26.6 million, or 30 cents a diluted share, from $42.7 million, or 46 cents, in the 2011 period. Revenues receded 2.2 percent to $579.3 million from $592.2 million in last year’s quarter, while gross margin backtracked to 40.6 percent of sales from 41.9 percent a year ago.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"